Get Rich

If you’re anything like most people, chances are you’ve got a hobby that you dedicate a part of your day – or even a whole weekend – in a regular basis.

Be it photography, gardening, playing a musical instrument or perhaps brewing craft beer, having a hobby doesn’t just help relieve stress and promote happiness, but also boosts your technical know-how of a particular interest the more you immerse yourself in it.

Now here’s a tricky question that I’m pretty sure you’ve pondered once or twice already: how do you transform your hobby into an income-generating venture?

Although deciding to quit your job to focus on your hobby full-time is definitely out of the picture, there are key steps that you should consider to get you on the right track. Make sure you follow along to find out what these are.

Set up a business plan.

Let’s kick things off with something a lot of people tend to overlook. Turning a pastime into something that generates money isn’t as simple as deciding to do so. You’d have to set up a thorough business plan to find out if your hobby can really become an actual business.

Apart from conducting a feasibility study to determine how to effectively capture your target market, having a foolproof marketing plan, a strong social media presence as well as a reliable customer relationship management (CRM) system also should be in your checklist for starters.

Do it slowly, but surely.

A lot of people inadvertently put themselves in a really tight spot when trying to transform a hobby into a business because they tend to go for it in a large-scale setting almost immediately. Rather than going all in as soon as you get the chance, keep in mind to consider the transition as a “side hustle.”

So when is the right time to take it up a notch, you ask? It is when the income you earn from your “side hustle” gets equal to or even surpasses what you normally earn from your job. When this happens, you can already consider making the whole thing a full time affair.

Seek for ways to raise funds.

A critical component of transforming a hobby into a business is knowing if people will actually pay good money to avail of your service or product. This is also referred to as getting a “proof of concept.” And one way to pull this off is selling your potential business idea using a crowd-funding campaign.

There are actually a lot of platforms that you can use to achieve this, like Indiegogo, GoFundMe and Kickstarter. A word of caution, though. Successfully getting funding for your idea can be very tricky and even brutal.

However, chances are you’re guaranteed to receive seed money to green light your business if the marketability factor is highly stable and if you managed to arouse the interest of a potential customer base in your pitch.

Let honest feedback be your best guide.

Sure this may sound rather exhausting, but you’d have to ask a lot of people if the hobby that you’re trying to transform into a business is really worth the time and effort. Getting honest feedback is critical if you’re looking to make your business idea take off.

You can look at it this way. You may think that your idea of a product or a service may already be 100% ready for business mode, but the target market you’re hoping to capture may think otherwise. Forcing it will just lead to disaster.

You should do this to gauge the quality of your product or service from another person’s perspective. On the other hand, it is also a nice way of getting a more concrete idea if the same is more than just novelty and will really take off when you do decide to launch it.

Change is a constant thing when it comes to business. Whether you’re in finance or technology, always making it a point to adapt to new trends plays a key role in boosting your chances for success.

Let’s check out what superstar entrepreneurs, namely James “Murr” Murray, Gary Vaynerchuk, Emily Weiss, and Tim Ferriss, have to say about what things to expect this year and how to use them to your advantage.

Gary Vaynerchuk: “Voice. Everything is about voice.”

Gary Vaynerchuk thinks that entrepreneurs can give their businesses a boost in the right direction if they just harness the power of voice. The CEO and chairman of VaynerX and VaynerMedia believes that consumer voice plays a big role in making crucial business decisions because getting access to new information, new experiences and new actions means a definite entrepreneurial advantage.

James “Murr” Murray envisions virtual reality or VR-based live events as a potential industry in the next few months. Since VR is already becoming one of the most popular technological pastimes these days, combining it with convenience will no doubt be a smart decision.

Emily Weiss: “I can’t stop thinking about how AI is crucial to the future of startups.”

Emily Weiss believes that artificial intelligence or AI will be one of the focal points for business in 2018. The CEO and founder of Glossier considers the possibility that the involvement of some sort of AI aspect may be a key factor in helping startups take off.

She emphasizes that involving AI in business strategies helps entrepreneurs add a more personal touch to the way they build up their community while also being able to balance digital developments at the same time, which can significantly help improve customer experience along the way.

Tim Ferriss: “When people are myopically fixated on problems, they often leave opportunities in plain sight.”

Tim Ferriss shares that it’s not uncommon to see at least one major asset class in the United States drop in value by as much as 50 percent in 2018. It could be in the stock market, real estate or some other form of trade.

Now while this may sound rather grim for most business owners, the author of Tribe of Mentors: Short Life Advice from the Best in the World points out that it can actually have a positive entrepreneurial effect.

Instead of panicking, Ferriss advises entrepreneurs to focus on a very positive upside to the whole scenario: many expensive things can now be bought at a fraction of their former cost like acquisitions, advertising and investments.

Ferriss also shares that only the true entrepreneurs will have the mindset to stay in the game no matter how bleak the outcome seems to look. He adds that only the true believers and real performers can see the opportunities left in plain sight when most are myopically fixated on the problems.

First things first – Litecoin is one of the most notable cryptocurrencies out there which can be placed head to head with the likes of Bitcoin and Ethereum. That’s becuase it belongs to the first generation of peer to peer cryptocurrencies from all the way back in 2011.

It allows for very fast and at the same time very cheap transaction which is a win-win for all of its users. Just like Bitcoin Gold and Bitcoin Cash, Litecoin is yet another fork currency which has been created after splitting from the Bitcoin blockchain.

The History of Litecoin

Litecoin was born in 2011 and has quickly presented itself as a serious rival for Bitcoin. It’s no wonder Litecoin is now in the top 5 cryptocurrencies as far as capitalization is concerned with more than $ 2 trillion as of late 2017. The future seems rather bright too, considering all the virtues LTC has in contrast to Bitcoin. But what’s so special about it? Let’s see, shall we?!

Litecoin current Price

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What’s so special about Litecoin?

Just like virtually all other Bitcoin forks out there, Litecoin has just incremental differences in contrast to its big brother. It’s basically just a new name and a brand new (and shiny) logo whereas people now refer to Litecoin as crypto silver while Bitcoin is crypto gold.

Litecoin vs Bitcoin

The main features that distinguish Litecoin from Bitcoin are further explained down below:

Faster transaction confirmations are achieved over a shorter block time of 2.5 minutes on average. Litecoin is 4x faster than Bitcoin in this regard (The block size is 1MB as with Bitcoin).

Higher money supply. The money supply of Litecoin is set at 84 million. That’s exactly 4x more than Bitcoin.

Mining Algorithm Scrypt . Litecoin also uses proof-of-stake (PoS), but the algorithm is programmed differently. Litecoin Mining (Scrypt) requires more memory than Bitcoin Mining (SHA-256), so Litecoins can often still be profitably mined with fast graphics cards rather than highly specialized ASIC miners.

Litecoin on Twitter

Advantages and features of the Litecoin LTC cryptocurrency

Check out the key features of Litecoin that make it a unique asset among all other cryptocurrencies available:

Creation following Bitcoin in 2011

Litecoin is a cryptocurrency using blockchain

Mining more accessible because it requires less specialized equipment

Block processing speed greater than Bitcoin

Less saturation of the blockchain

Cryptocurrency in the top of capitalizations

Transaction costs generally lower than Bitcoin

Great accessibility to sites to buy cryptocurrency

Litecoin News

Additionally to those key differences featured above, it also must be said that Litecoin’s development is much quicker and involves less political involvement. That makes it astonishingly interesting for potential investors. The development speed can be seen in this example – the Activation of SegWit on Litecoin happened somewhere in May 2017 but it wasn’t a crucial technology (for Litecoin at least) since LTC block size limit was far from being top. This led to testing opportunity on LTC network before the official implementation on Bitcoin.

At the moment, Litecoin market value is sitting just above the $250 mark. There has been a slow drop these days after a massive jump which happened in the middle of December 2017. What will the future bring for LTC? Well, I am not the one to guess… But if I had to, I’d say there will be another massive spike up coming right up!

Future Predictions (Should you invest in Litecoin)

One thing is for sure – Litecoin is one heck of an interesting cryptocurrency. As a matter of fact, I’ll go out on a limb here and say that it’s probably among the hottest cryptos in 2018! Why is that so? Well, it has sunk down quite a bit after that huge spike in mid-December, meaning now is the right time to pump some money in it and hope for the best in the next month or so. Judging by the market opportunities at the time of writing this, there has to be another LCT spike just waiting to happen…

With so many to chose from, it may be a painful experience to find the right cryptocurrency to invest your money into. Some may offer you this, and some that, but in the end, it all comes down to the quality of blockchain technology. If it is done and implemented right, the coin will most likely get a lot of attention from the public and grow exponentially in almost no time. However, each currency is developing their mechanisms from day to day and setting new goals on a monthly basis. This may result in a drastic change of the way it keeps you safe or secures your identity, making the yesterday’s underdogs heroes of today.

Features

Ark (ARK) is a cryptocurrency that already established a stable infrastructure capable of dealing with any upcoming obstacles. It is one of the best virtues you can look for when choosing a coin to purchase, which also tells you a lot about the overall quality and motivation of the team that runs it.

Custom made SmartBridge technology is one of the key features that put Ark on a different level from the rest. Such a mechanism makes ecosystem of interconnected blockchains possible, allowing them to communicate back and forth with ease. With all the innovative solutions, team Ark managed to achieve extremely fast blockchain while at the same time allowing great scalability.

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Ark collaborates with ACES, an encoded listener node, allowing ARK transactions directly to Etherem without a need for an exchange. Further development of this mechanisms will create more options for its users and provide high quality decentralization.

ARK on Twitter

Future Predictions (Should You Invest)

Although it has been on the market for less than a year, Ark witnessed one of the biggest increases in value and overall market cap. Let’s just say a single coin was worth less than $0.5 USD six months ago, and currently is priced at $8.80, going over $10 couple of days ago.

The golden rule of making any sort of investment is buy-low, sell-high. Despite noticing such a huge leap forward we feel like the buy-low option on this one hasn’t yet closed. As crazy as it may sound financial experts predict it will continue growing at a slightly slower rate in the following year, and to be honest we completely agree. ARK is one of the hottest picks for purchase in this moment!

Ark Wallet and exchanges

From the personal experience, Ark exchange on Bittrex is extremely fast, taking only seconds for money to go from one place to another. Its lightning-fast speed compared to the most of the tokens available today is one of its biggest virtues. Besides Bittrex, a hand full of exchanges such as Binance and Upbit offer the ability to trade ARK coins.

Ark wallet is available for desktops and mobile devices, allowing you to access your money anytime and anywhere. Both Android and iOS are supported, while you shouldn’t have any troubles on the desktop either, as it is built for all major Operating Systems.

Summary

Ark has one of the most innovative and well-thought blockchains available on today’s market. It is characterized by extreme speed, great bridging abilities, and high security. There aren’t many areas it needs to improve in, as it has already reached an envious level in less than a year spent on the market. It hasn’t stopped trending since August 2017, and noticed the biggest increase in value sometime half through December last year, jumping from $350 000 000 market cap to $839 000 000 USD in less than 10 days. It is witnessing a minor dip these days, but we expect to see another increase in few days. For everything it has to offer, Ark is one of our favorite coins to exchange in this moment.